Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

Financial Crime, Sanctions, UK

INSIGHT: Russian oligarchs on sanctions list – including Abramovich – did not disclose their UK properties ahead of new law deadline

PUTIN SANCTIONS: Foreign companies holding UK property have until the end of Tuesday to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. Foreign companies holding UK property have until the end of today (Tuesday) to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. FILE PHOTO SHOWS RUSSIAN PRESIDENT PUTIN SPEAKING TO LOCAL MEDIA.

By Andrew MacAskill, Ryan McNeill and Sinead Cruise

Following Moscow’s invasion of Ukraine last year, Britain trumpeted new legislation requiring property-ownership disclosure aimed at cracking down on Russian oligarchs and corrupt elites laundering illicit wealth.

Foreign companies holding UK property had until the end of Tuesday to identify their “beneficial owners” in a new public register, making Britain one of the first countries to do so. But a Reuters analysis of government data found that the people behind more than ten thousand UK-property owning foreign companies remain shielded from public view.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!